Auditing Overview - Concepedia

Principles

Definition

Auditing is a systematic process of independently examining and evaluating assertions regarding a subject matter against established criteria to ascertain the degree of correspondence and communicate the findings. As a research field, it investigates the theory, methodology, and impact of assurance and attestation services on information reliability, organizational governance, and control structures.

Ontological type

Core Methods

Regulatory Framework

Assurance Quality

Key developments

Key Figures

Market Structure and Pricing era

Siew Hong Teoh [1] is a central figure in this era's audit-market literature, with affiliations at the University of California, Los Angeles [3] and the University of California, Berkeley [4]. He contributed by analyzing how perceived audit quality relates to the earnings response coefficient in the paper 'Perceived Auditor Quality and the Earnings Response Coefficient' [5], illustrating that audit-market structure shapes investor perception and governance concerns in this period. Zoe-Vonna Palmrose [2] is a notable figure in this era, with institutions not listed in the provided data. Her key contribution is the paper 'Audit Fees and Auditor Size: Further Evidence' [6], which clarified how auditor size relates to audit fees and independence concerns in this era.

Audit Governance Mechanisms era

Susan W. Parker[1] of Yale University[3] and Tulane University[4] contributed to governance research in the Audit Governance Mechanisms era. Her key contribution via Audit Committee Characteristics and Restatements[7] demonstrates that audit committee characteristics influence restatements and thereby enhance reporting reliability in this governance-centric era. Gary F. Peters[2] was affiliated with the University of Georgia[5] and the University of Arkansas at Fayetteville[6] during this era. His key contribution through Audit Committee Characteristics and Restatements[7] highlights how governance oversight reduces restatements and earnings management, reinforcing the governance emphasis of the era.

Reporting Transparency and Technology era

Jere R. Francis [1] is associated with Maastricht University [3] during this era and with the University of Missouri [4], contributing to the literature on audit transparency and quality. In this era, his key contribution comes from the paper A Framework for Understanding and Researching Audit Quality [6], which provides a structured lens for understanding audit quality and its determinants, offering a foundation for measuring quality in regulatory and practice contexts. Miguel Minutti-Meza [2] is associated with the University of Miami [5] during this era, contributing to debates on expanded auditor reporting and transparency. His key contribution is the 2018 paper Consequences of adopting an expanded auditor’s report in the United Kingdom [7], which empirically examines how expanded disclosures influence stakeholder interpretation and audit costs, highlighting the practical implications for reporting transparency.